Countries that are more unequal tend to be less stable and have lower economic growth, according to the IMF. Income disparity can bring more dire consequences too. Disparity…brings division, LaGarde said. History…teaches us that democracy begins to fray at the edges once political battles separate the haves against the have-nots. What to do about growing income disparity around the world? The IMF chief suggested countries implement redistributive measures, including expanded access to education and health care, increased property taxes, and more progressive tax systems. Heres how the US tax system has helped the rich get richer over the years:
Posted on: Wed, 23 Jul 2014 21:35:43 +0000
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